Alaska Air hopeful on restoring guidance as fares help offset fuel hit
Alaska Air hopeful on restoring guidance as fares help offset fuel hit By Rajesh Kumar Singh
RIO DE JANEIRO, June 6 (Reuters) - Alaska Air Group ALK.N is hopeful it can reinstate its financial guidance on its second-quarter earnings call if fuel prices show more stability, Chief Financial Officer Shane Tackett told Reuters on Saturday, after volatility in jet fuel costs forced the carrier to pull its full-year outlook.
Tackett said higher fares and resilient demand could allow Alaska to offset most of the fuel-price hit in the second half of the year, with operating cash burn potentially falling to zero or turning slightly positive.
Corporate bookings over the next 90 days are running 20% to 30% above last year, he said in an interview on the sidelines of the International Air Transport Association's annual meeting in Rio de Janeiro.
(Reporting by Rajesh Kumar Singh in Rio de Janeiro)
((rajeshkumar.singh@thomsonreuters.com; +1-313-484-5370; Reuters Messaging: rajeshkumar.singh.thomsonreuters.com@reuters.net/))
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